US EditionIran War Pushes Oil Prices to 4-Year High as Hegseth Faces Off with Senators
Brent crude jumped 7.1% to $126.41 a barrel as traders priced in supply risks from a prolonged blockade and possible new military strikes.
- On Thursday, oil prices surged past $126 to a four-year high after President Donald Trump warned the U.S. blockade of Iranian ports could last months to compel a nuclear deal.
- Trump told Axios the blockade is "somewhat more effective than the bombing," as he directed security officials to prepare for a long-term closure to force Tehran to abandon its nuclear program.
- The prospect of the Strait of Hormuz remaining closed—through which one-fifth of global oil passes—triggered declines in Asian stock markets including Tokyo, Hong Kong, and Seoul.
- Investors are also assessing Federal Reserve policy after four officials dissented on a vote, with three members stating they "did not support inclusion of an easing bias in the statement at this time."
- Michael Brown at Pepperstone noted that negotiations appear stalled while markets shift from a "no news is good news" mantra to a "no news is bad news" perspective amid uncertainty.
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iosconews.comOil surges 7% to top $126 on Trump blockade warning
Oil prices soared more than seven percent to a four-year high above $126 Thursday after Donald Trump warned the US blockade of Iranian ports could last months and a report
Oil Prices Explode To Four-Year High As Hormuz Blockade Holds Firm - Tampa Free Press
Global energy markets experienced a massive jolt early Thursday as Brent crude spiked to $126.41 a barrel. The surge marks the highest price for the international benchmark since 2022, fueled by the ongoing military standoff in the Middle East. While the price later retreated to around $110, the morning’s peak highlighted the extreme volatility gripping […] Oil Prices Explode To Four-Year High As Hormuz Blockade Holds Firm
The world oil price rose above $126 this morning as the prospect of a quick resolution to the Iran war becomes increasingly bleak. Although there has been some correction since then, prices as high as $190 are possible by summer.
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